Wolverine issues Q1 results
29/04/2014
Its Performance footwear group, which is made up of the Merrell, Saucony, Chaco, Patagonia Footwear, and Cushe brands, grew by 3.5% year on year to reach revenues of $248.8 million. However, overall results were “offset by softness in the Lifestyle group”, the company said.
Brands in the Lifestyle group include Keds, Hush Puppies, Stride Rite and Sperry Top-Sider. This group of brands registered a decline in revenues of 11.9% compared to the first quarter of 2013, to reach $238 million this year.
Wolverine’s third operating group of brands, Heritage, recorded growth of 1.8% to reach $120.7 million. This group comprises the Wolverine, Caterpillar Footwear, Bates, Harley-Davidson Footwear, Sebago and HyTest brands.
Chief executive, Blake Krueger, said on announcing the results that he still expects 2014 to be a record year.
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